So you want to open a franchise? Where do you even begin! There are many steps to getting your business off the ground, from choosing the right Franchise model, to your business partner (if you want one) but most importantly ensuring that you have enough funding to open the doors.
Regardless of investment size, sourcing funding is cited as the top challenge of franchise owners across the globe. Even with access to a large amount of cash or financing, there can be smarter ways to tie up capital, or better still – not to!
What if there was an easy way to fund the franchise of your choice but tie up less capital, whether it be your bank loan or cash out of your own pocket. Silver Chef offers a range of franchise funding options that are flexible on your hospitality equipment so unlike bank finance or cash, you can add or change equipment if you outgrow it. And if your franchise system rolls out a new menu item, you’ll be able to seize the opportunity and add the additional item with ease without worrying about outlaying large sums.
After all your restaurant equipment is a depreciating asset, meaning it’s critical to you generating profit and operating smoothly, but is not going to appreciate in value or offer any additional benefit to your investment.
By funding your equipment through our rent to own funding, you can get into the franchise model of your choice by closing the finance gap required by the franchisor. Even if you’re one of the lucky few with ample funds available, you’d be surprised at how much capital is needed within the first year. From local area marketing to structural mishaps right through to staffing challenges, in 30 years we have never heard a business owner call opening a franchise, ‘smooth sailing’! Rather a challenging but highly rewarding experience. So why not consider funding your equipment the smart way, and make your journey to open a franchise smoother, less risky and easier on the pocket.